Uses of Silver
Silver is used in a very wide range of industrial and other applications. Needless to say, this pushes the demand for silver upwards and is expected to continue to do so over the long term. This will be of great benefit to investors that invest in or own silver, especially to those silver investors that choose to jump onboard at an early stage. It is no secret after all that both mining and recycling are struggling at best to meet the growing demand for silver.
Why is silver in such demand? It’s simply because silver has a number of unique properties. Unique properties including strength, malleability and ductility, electrical and thermal conductivity, sensitivity to and high reflectance of light and the ability to endure extreme temperature ranges. Needless to say, silver’s unique properties restrict its substitution in most applications. This is good news for investors that wish to invest in or to own silver.
Demand for silver is mainly built on three main pillars:
- Industrial and Decorative Uses
- Jewelry and Silverware
Together, these three categories represent more than 95 percent of annual silver consumption of which the bulk is consumed by industrial applications. Investor demand for silver is still a drop in the ocean, but this is expected to increase tenfold as investors worldwide realise the paramount importance of silver in the world we’re living in, especially if they realise that silver has been used as currency or money in the past and that chances are good that it will be used again.
Choose from the following list to learn more about some of the various applications of silver:
Source: The Silver Institute